Gold Hovers Just Below Two-Week High – 8 February, 2022

Gold prices were hovering just below a two week high touched the previous session on expected robust U.S. inflation data this week. Spot gold was 0.1% higher at $1,827.37 per ounce, just below a two week high of $1,828.68 the previous session. U.S. gold futures was 0.1% higher at $1,829.10. U.S. inflation data for January shows an expectation of a 7.3% annual rise, after robust labour data last week boosted expectations of faster policy tightening by the U.S. central bank.